SOURCE: Warp 9, Inc.

Warp 9, Inc.

February 11, 2015 03:01 ET

Warp 9 Comments on Ulmart's Plan for Billion Dollar IPO

Growing Success of Online Retailers Underscores the Company's Opportunity in the Large and Rapidly Growing E-Commerce Market

SANTA BARBARA, CA--(Marketwired - Feb 11, 2015) - Warp 9, Inc. (OTCQB: WNYN), a leading provider of mobile and digital commerce solutions for midsize online sellers, commented today on Ulmart's recent announcement to file for a billion dollar IPO (http://www.ulmart.ru/).

Ulmart, a large Russian online retailer described in a recent CNBC story, is expected to file for an IPO towards the end of 2015 or early 2016. This highly anticipated IPO would join other major public eCommerce retailers such as Alibaba, as eCommerce, mobile commerce, and mobile payments continue to be thrust into the spotlight of global markets.

Ulmart originally announced to go public in March of last year, based on a valuation of up to $3 billion. The challenging international political climate following the Ukrainian crisis caused Ulmart to delay the IPO. However, Ulmart has now consolidated its leading position in the growing Russian e-commerce market, and now presents an attractive opportunity for potential investors. Ulmart's revenues reached $1.3 billion in 2014 (not including VAT), up 50 percent from the previous year, according to preliminary company estimates.

"The recent success and continued growth of Ulmart and other major online retailers further underscores Warp 9's opportunity in the market," said Andrew Van Noy, CEO of Warp 9. "As these online sellers and their smaller counterparts grow, it will only increase the need for solutions providers and development services to support and sustain their businesses. We believe that Warp 9 has the ability to scale to meet the demands of this growing industry."

Mr. Van Noy concluded, "To quickly capitalize on the growing e-commerce market, Warp 9 has committed to a growth by acquisition strategy. We intend to acquire profitable small to medium sized e-commerce providers and consolidate them into a large digital commerce solutions enterprise. I believe that the market is ripe for our strategy."

About Warp 9

Since 1998, Warp 9, Inc. is a leading provider of mobile and digital commerce solutions for midsize online sellers. Offering fully managed Software-as-a-Service desktop and mobile e-commerce technology, Warp 9 allows customers to focus on their core online businesses, rather than on technical implementations. To learn more about Warp 9, please visit www.warp9inc.com or on Twitter at www.twitter.com/warp9inc, or on Facebook at www.facebook.com/warp9inc.

Safe Harbor Statement

Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Contact Information

  • Contact:
    Media Contact:

    Eric Fischgrund
    FischTank PR and Marketing
    Email: Email Contact

    For Sales:

    Jeremy Buel
    Tel: 805-964-3313
    Email: Email Contact